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Messages - TomPluz

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News related to Crypto / Politics & Crypto: Choke Point 2.0 is hurting Kamala Harris

« on: September 12, 2024, 06:41:25 AM »

Quote

Kamala Harris has given cryptocurrency fans little to be hopeful about — despite some of the milquetoast rhetoric from her supporters.

The Federal Reserve’s enforcement action against a crypto-friendly bank shows that Operation Choke Point policies may still be on the table. The enforcement action also undermines the idea that Harris would bring a change of pace for U.S. cryptocurrency policy should she win the presidential election.

Dan Spuller, the Blockchain Association’s head of industry affairs, was quick to point out that the Federal Reserve’s enforcement actions appear to be only the latest of Choke Point 2.0 policies under the Biden administration.

Harris has given fans of cryptocurrency nothing to be hopeful about. She has yet to address the issue once on the campaign trail — leaving the public with little more than the past few years to judge.

Get more details of this piece here.

As one of the many people who don't believe that under Harris/Walz we can see a better treatment of the cryptocurrency industry, I am watching both sides of the political sphere to determine who got a better stance on our industry and who has the track record either as an enemy or a friend. Harris/Walz tandem can be full of good rhetoric too just like the other side but she lacks more focus on policies that may work and in fact she is avoiding many interviews as she can not articulate that much on what she would be doing once in office and even in the last debate there are many things not so clear. So if Harris is really serious to get the votes of those in the cryptocurrency space, she should send the message clear once and for all especially on the question if she is approving the many things happening right under the Biden administration where she is very much a part of.

Binance Smart Chain + Ecosystem / Re: BitGo's WBTC on BNB Chain

« on: September 12, 2024, 06:13:13 AM »

According to Coindesk: "Wrapped tokens allow unsupported assets like bitcoin and ether to be traded, lent and borrowed on DeFi platforms." And it is wBTC that is leading the market with capitalization ranging from $8.8 billion according to Coingecko and $10 billion according to Coindesk. Now, with the coming or expansion of wBTC to the BNB Chain...will it mean more transactions in the platform? For sure there can be an increase but whether the increase can be significant that remains to be seen. Still, this is good news for BNB and is further solidifying its leadership in the crypto market.

Ethereum Forum / Re: Why Ethereum is underperforming?

« on: September 12, 2024, 05:49:47 AM »

Quote from: Azharul on September 05, 2024, 09:08:46 AM

So we also know that when bitcoin price will down, than Ethereum price will be down. But when bitcoin price will high than Ethereum price will be reach in high level. So i believe that in very soon Ethereum price will increase gradually.

With the way things are happening with the price movements of ETH right now, I am sure it would be safe to say that it is very much linked to the things happening with BTC. In other words, up to now, there is still no decoupling between the two assets as they are acting like best friends where one goes so does the other. Of course, we should also note that the ETH ETFs are not performing well as expected as we are now hearing of big outflows than inflows. Anyway, when BTC will experience a big bull run am hoping that ETH would also be following the direction.

General Discussion / Re: Crypto People, Would you vote for Trump ? - Non US Only

« on: September 12, 2024, 05:29:15 AM »

Well for me, crypto is not enough, of course, but can be one of the basis. I am also looking forward for a stronger USA leadership especially in Asia where China is now an official bully. Biden is a very weak president and Harris is very much a part of the Biden administration no matter how she is trying to get away with that fact. Both Trump and Harris do have flaws and have many personality defects that is why we need to focus on policies...but not just based on words and promises but on track records. USA right now is on a crossroad and the nation's decision on November 5 can be telling us which direction it would go and whether we can still see its strength in the international stage or would it be just another Britain.

Bitcoin Forum / Peter Schiff vs Michael Saylor: Will Bitcoin Burn Investors?

« on: September 11, 2024, 05:55:30 AM »

Peter Schiff is back on his usual tirade and rant and this time he is challenging Michael Saylor to a debate on Bitcoin's viability and worth as he is accusing the latter to be "misleading the public with overly optimistic predictions about Bitcoin’s future."

As a strong proponent and believer in the value of gold over cryptocurrency, Peter Schiff is the go-to-guy if you want a comment that puts Bitcoin on the negative scale of things. Schiff accused Saylor of promoting a path the will "typically culminates in substantial financial losses for most.

Schiff said: “It begins with a sucker and ends with heavy losses.”

Saylor: "I’ve seen the light. Bitcoin is gonna change the world. It’s unstoppable.”

Ladies and gentlemen, which side of the debate would you bet your money?

Bitcoin Forum / Re: Why Bitcoin

« on: September 11, 2024, 05:25:36 AM »

I am so sure that majority of the people who got into Bitcoin and cryptocurrency industry for that matter are all looking for the possible gains they can get with the asset. And I think this is a very valid reason since nobody would be buying something that we know will not be gaining in value, after years of holding. And this was also true with me. I bought some Bitcoin before with the idea that it would go up in price...and then I later learn of the many philosophical grounds why Bitcoin got into existence. Right now, I am seeing Bitcoin as a big hedge against economic maladies that may fall on all of us in the coming years. Of course, there will be risks as nobody can be sure of what the future might hold for all of us.

Cryptocurrency discussions / Re: How To Stay Ahead in Web3

« on: September 11, 2024, 05:06:54 AM »

Quote from: Fivestar4everMVP on September 09, 2024, 12:15:05 AM

*Take Action Now:* Staying ahead in Web3 means being proactive, informed, and flexible. Start building connections, organize your resources, and act fast when opportunities arise. Don’t wait for the perfect moment—create it!

We are living in an ever-changing world and we are witnessing this reality much more in the cryptocurrency industry including Web3 which I am seeing is making an acceleration at a good rate these days. With Web3, we can experience many potentially profitable opportunities but we have to act fast, doing things at the right time and get out when needed to maximize gains and minimize loss. But for an ordinary guy like me who has no paid research firm to get information that can potentially help my investment, we need to gain some connections with people and groups that have proven their legitimacy and proven track record.

Cryptocurrency discussions / Re: Which is for favourite Top 10 altcoin in 2024?

« on: September 11, 2024, 04:48:21 AM »

I am not holding a lot of altcoins myself but I have some in my wallets. Now, in 2024 and maybe even heading into 2025, here my top 10 altcoins: BNB, Ethereum, TON, Solana, TRX, Dogecoin, XRP, Cardano, Polkadot and NEAR. I believe that these digital assets will be exploding in 2025 and they are all worth investing with. So if come December I would be luckily getting a big bonus or I will win in lotto, I would definitely put my money on them, aside from Bitcoin, of course.

Cryptocurrency discussions / Re: Crypto becomes US election issue for the first time

« on: September 11, 2024, 04:36:06 AM »

Quote from: Zed0X on September 10, 2024, 11:15:52 PM

...when it comes to the crypto voting bloc, Gensler is probably Trump's best campaign manager

And it is because Kamala Harris is part and parcel of the Biden administration being his right hand as the Vice President...and it is in this administration that we are see a strong antagonism to the industry instead of it guiding and regulating it. Gary Gensler is considered as an "enemy of the cryptocurrency industry even if he eventually approved ETFs after the strong and powerful pressures from many sides. Now that cryptocurrency is taking on stage as one of the issues being talked by both sides of the political sphere, some voters are taking stand and they might favor a candidate who is considered more friendly to cryptocurrency.

News related to Crypto / Re: FBI: $5.6B Lost to Crypto Fraud, 45% Increase Since 2023

« on: September 11, 2024, 04:03:37 AM »

Quote from: Z-tight on September 10, 2024, 06:09:56 PM

From the report, those 60 and above were the highest victims, I guess many old people are not familiar with crypto, nor how crypto scammers operate, and that is why those in that age bracket suffered the most financial losses.

Very sad indeed to see many seniors who are getting victimized much easier by scammers and this is actually so true whether we are talking on crypto-based scams or not. And it can be because those people are not anymore updated with things going on online and offline and maybe also because they can be more trusting compared to those in younger generations. Watching YouTube, there are so many horrendous stories of old people whose savings were decimated by scammers. I think there should be an education program for the seniors for them to avoid scams of all kinds and to never open up to strangers online.

News related to Crypto / FBI: $5.6B Lost to Crypto Fraud, 45% Increase Since 2023

« on: September 10, 2024, 09:49:12 AM »

Quote

The Federal Bureau of Investigation’s (FBI’s) Internet Crime Complaint Center (IC3) latest report highlights the rise in cryptocurrency-related fraud, with estimated losses hitting $5.6 billion.

In a report, the FBI said, the IC3 received over 69,000 complaints involving financial crimes connected to cryptocurrencies such as Bitcoin, Ethereum, and Tether.

Although these cryptocurrency-related complaints comprised only 10% of all financial fraud reports, they accounted for nearly half of the total losses.

The agency reports a staggering 53% increase in losses was observed in cryptocurrency-linked investment fraud schemes, with total losses jumping from $2.57 billion in 2022 to $3.96 billion in 2023.

Individuals aged 30 to 49 filed the highest number cryptocurrency-investment fraud complaints, with about 5,200 reports in each of the 30-39 and 40-49 age groups. However, it was older individuals—those over the age of 60—who suffered the greatest financial losses, reporting more than $1.24 billion in total.

More of this news here.

With the continuing and very profitable attacks from scammers, hackers and fraudsters all around the cryptocurrency industry, I would not wonder if there comes a time when we will just shrug a news like this. The most important thing is to always be careful and never believe anybody's claims and promises especially those who are "too good to be true" as they are mostly frauds. These evil people are after what we have and they are usually so equipped with tools and experience to get what they wanted. Sadly and expectedly, older people are the easier prey to this deluge as they are less technologically-updated so if you are already in your advanced years and you are in crypto (just like me) you must be aware of the things you can do to safeguard your very own interest.

Cryptocurrency discussions / Re: Watch Out for Crypto Scams!

« on: September 10, 2024, 08:27:21 AM »

Quote from: Learn Bitcoin on August 28, 2024, 02:54:04 PM

The problem is that scammers always appear with new faces and methods. People involved in crypto get scammed at least once in their crypto journey, no matter how experienced they are. I was scammed a couple of months ago by phishing. It's not like I didn't know how phishing works. However, it happened because I did not double-check the URL before connecting my wallet.

Welcome to the Victims Club in the cryptocurrency industry. I am sure that your story is not an isolated one as there are many people who already experienced the same and that terrible feeling of being a victim is not something to desire. You are right, the problem is that scammers and hackers are always finding new strategies to victimize people and crypto platforms. Imagine this: if they can get in and hack sites with strong security measures in place, how much more people like us? Until this time, nobody can provide the security that is 100% fool-proof as hackers and scammers can really find the weakest points and exploit them for good. The only thing we can do is to be so extra careful and to triple check things before we click go.

Cryptocurrency discussions / Re: Best Time to Invest in Bitcoin??

« on: September 10, 2024, 07:35:52 AM »

Quote from: sonaa on September 09, 2024, 08:11:28 AM

"If you're going to invest in Bitcoin, the short time horizon is four years, the medium time horizon is ten years, and the right time horizon is forever." Otherwise, if luck is good, everyday is the best time.

I would say that everyday is an opportunity to buy Bitcoin or even any other good coin in the crypto market. Now, since we all want to maximize our investments we are looking for the time when there is a big dip in the price of Bitcoin...as they say, invest when you can smell blood in the market. Unlike other assets, Bitcoin is know to have a good rebound rate so even if there can be risks involved the possibility of rewards can be good here. just make sure that you have the money to invest...hold for 4 years as you are suggesting or better yet forget your BTC until 10 years after...who knows by 2034 the price of each BTC can already be 1 million dollar or at least half of it.

Cryptocurrency discussions / Re: What is the importance of price in Bitcoin?

« on: September 10, 2024, 07:19:31 AM »

Aside from the people who decided not to anymore hold Bitcoin (sell), we should also note that Bitcoin is traded on a global scale and these traders are also major influencers for the price of this asset. Now, of course, if there is one thing that will not change for any reason it must be Bitcoin and maybe 10 years (speculation) from now maybe BTC would be priced 1 million dollar already so if you have 1 BTC under your sleeves you can be a millionaire at the right time. The best thing to do when there is a dip just like now is to get more (buy) so we will have an asset we can depend on years later. Now, to the question of the importance of the price of Bitcoin, here it is: the price determines the value of anything including Bitcoin and if something is not priced well then maybe it has less value at all and the biggest reason why BTC is now highly-priced is because people are seeing its value well today and into the future.

News related to Crypto / Re: Japan Considers Lowering Crypto Tax Rate to Unified 20% from Current 55%

« on: September 10, 2024, 06:53:03 AM »

Quote from: trendcoin on September 09, 2024, 04:45:10 PM

These tax rates still seem too high to me. I haven't read the details of the news, but if I am exposed to these tax rates, I will become an anarchist in two days... Through this news, we understand that the relationship between decentralized systems and authorities is not always good. This will push us to trade in illegal ways from time to time. I don't think we owe anything to anyone except the commission paid to the stock exchange and the tax on that commission...

As we know it, the government is doing all it can to extract money from the people in many ways than one...and here in cryptocurrency the government of Japan seemed to be unsure on what to do before and maybe right now they realized that they are actually burdening the many players who are doing the trading and investing. In countries where the government is on the top of many industries, people have no choice but to report and pay the taxes according to the approved rates. I am then glad that here in my country, we are still free to report or not to report. And you are right, sometimes it is good to think to defy the government but then we really don't know how powerful the government is on their locations. Still, this news is a good one but if they can lower more then it can be a celebration.